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Mon 27 Jul 2009, 07:21 GMT

PSO to import over 1 million tonnes of fuel oil


Leading oil marketer reveals import plans for August.

Pakistan State Oil (PSO) has reportedly revealed that it intends to import over 1 million metric tonnes of fuel oil next month, according to local market sources.

Speaking during a presentation on product supplies to the power sector, PSO Managing Director Irfan Qureshi said that of the total 1.085 million tonnes of fuel oil to be imported in August, 220,000 tonnes was for refinery production, 715,000 tonnes was the import plan for high sulphur fuel oil (HSFO) and 150,000 tonnes was the import plan for low sulphur fuel oil (LSFO).

Earlier this month, PSO issued a tender to purchase 910,000 tonnes of high-sulphur fuel oil (HSFO) and 350,000 tonnes of low-sulphur fuel oil (LSFO) for delivery between August and November.

Pakistan's leading oil marketer was said to be seeking supply bids for twelve 65,000-tonne cargoes of high sulphur fuel oil, with the option to buy a further two similar-sized cargoes, for delivery between the months of August and October.

Meanwhile, the low sulphur fuel oil requirement comprised a firm delivery of five 50,000-tonne cargoes with the option to buy an aditional two cargoes of the same size for delivery between September and November.

Last month PSO issued a tender for the purchase of up to 520,000 metric tonnes of high sulphur fuel oil (HSFO) and 200,000 tonnes of low sulphur fuel oil (LSFO) between July and September.

The company was seeking supply bids for 390,000 tonnes of high sulphur fuel oil, with the option to buy an additional 130,000 tonnes. The product would be supplied in six batches of 65,000 tonnes with two further batches under optional delivery for the same amount.

As for low sulphur fuel, the requirement was for a firm delivery of 100,000 tonnes with the option to buy an aditional 100,000 tonnes.

The bidding was held in Karachi on July 1st.

Pakistan 
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